PH makes waves at the G2E ASIA 2013

Monday | May 27, 2013 | 12:58 PM

THE PHILIPPINES received positive reviews during the recently concluded G2E Asia 2013 held at the Venetian Macao from May 21 to 23 after the Philippine panel presented an interesting and informative overview of exciting developments in gaming in the country. The panel was headed by Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Cristino Naguiat, Jr.

PH makes waves at the G2E ASIA 2013
PAGCOR Chairman and CEO Cristino Naguiat, Jr. was one of the keynote speakers during the recently concluded G2E Asia 2013 held at the Venetian Macao from May 21 to 23, 2013. The PAGCOR Chief's presentation about the recent developments in the Philippine gaming industry particularly the Entertainment City project drew the interest of many G2E participants.

Touted as the most anticipated gaming event in Asia, the G2E Asia 2013 was reportedly attended by thousands of participants coming from different countries. The attendees during the three-day event were gaming industry analysts, investors, bankers, senior casino management from Macau and other gaming jurisdictions, exhibitors and foreign media.

Among the event highlights was the Global Markets Forum where an overview of the industry’s hottest and emerging markets was tackled. The focus of this year’s G2E were the Philippines, Taiwan and Macau.

“Through our participation in the G2E, we were able to inform the movers and shakers of the international gaming industry what we are doing here to make the Philippines figure well as one of the best options for travel, leisure and gaming in Asia,” said Naguiat.

“Many are saying that the Philippines is now a serious contender for the premium Asia-Pacific gaming market primarily through our Entertainment City project. We look forward to welcoming more foreign visitors to our country in the coming months as developments in Entertainment City continue to unfold,” he added.

Ben Lee who is the Managing Partner for IGamiX Management and Consulting Ltd noted that “the audience of professional investors and gaming operators arrived expecting obtuseness but were instead blown away by the forthrightness of the Philippine team headed by Chairman Naguiat.”

Lee, who was also the forum moderator said “the best comment I received in multiples was that this (PAGCOR presentation) was the best panel session of the whole conference, something which would not have been possible without the passion and commitment shown by the panel members.”

Meanwhile Roger Gros, publisher of the Global Gaming Business Magazine cited "the panel on the Philippines was very enlightening. Starting with Chairman Naguiat, the description of the Philippine gaming industry was accurate and informative."

PAGCOR’s G2E presentation was the most attended among all sessions indicating the high interest in the Philippines.

Naguiat reported that the size of the Philippine gaming industry in terms of gross gaming revenues (GGR) “generated over US$2 billion in 2012. The casinos accounted for 80% of this amount. With two resorts (Resorts World Manila and Solaire) open this year, the casino contribution to total industry revenue will rise further.”

PH makes waves at the G2E ASIA 2013
Chairman Naguiat together with Assistant VP Eduardo De Guzman (PAGCOR's Slot Machine Department) graced the G2E Asia 2013 exhibit.

The PAGCOR Chief also cited that the Entertainment City development guidelines implemented by his management “demonstrate our strong commitment to the government’s program of making tourism one of the main engines of economic growth. Inspired by the able leadership at the Department of Tourism, PAGCOR fully supports the national target of 10 million tourist arrivals by 2016.”

The latest updates on Entertainment City also drew interest from the conference participants. “It is generally on schedule. We intend to open one integrated resort per year until 2016 or 2017. So far, two have opened. The next one is scheduled to open middle of next year and the remaining two ideally before 2016. There are a few hiccups from time to time but overall we think the schedules would substantially be met,” said Naguiat.

Michael Grimes, editor of Macau Business Daily newspaper said he was “impressed with the open and honest discussion by the panel from the Philippines of the challenges as well as the opportunities in the country's gaming market.”

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